He announced this during the foundation stone laying function for the surface-to-air missile project of Bharat Dynamics Limited (BDL) at Ibrahimpatnam in Ranga Reddy district, near here.

The BDL project, coming up at a cost of Rs.500 crore, is expected to be completed in four years and provide employment to 1,000 people directly and indirectly.

Minister of State for Defence Pallam Raju said the BDL’s turnover in four to five years would go up to $1 billion (Rs.5,000 crore).

The minister pointed out that the BDL has the entire missile research and development programme in the state. He said three missile development projects were coming up in Medak, Visakhapatnam and Ibrahimpatnam.

Pallam Raju said BDL had plans to undertake defence production of worth of Rs.34,000 crore in the state during the 12th and 13th Five Year Plans. He hoped that this would promote local ancillary industry, provide employment and would help in the regional development.

BDL Chairman and Managing Director Maj. Gen. (retd) Ravi Khetarpal said BDL, which was started with an investment of Rs.115 crore, had now become Rs.1,000 crore company.

The chief minister said three units each of BDL, Bharat Electronics Limited (BEL), two of Electronics Corporation of India Limited (ECIL) and one of Mishra Dhatu Nigam Limited (MIDHANI) were coming up in the state. He said the works relating to land acquisition for these units were at different stages.

“If completed these units will provide direct employment to 10,000 people and indirect employment to another 25,000 people,” he said.